Choosing the right forex broker can undoubtedly lead to better results, especially in the United Kingdom. Accordingly, if you want to trade optimally, you’ll need to:
- Find the right forex trading platforms, we will be looking into UK's best forex brokers.
- Make sure the broker has good customer service, this will help you with opening an account, getting verified, the deposit & withdrawal process, and most importantly getting the help you need for your day-to-day trading questions.
- Open an account with the best trading account provider.
- Trade on the best platform providers in the UK.
- Get insight on all the fees and trading costs.
Best Forex Brokers in the UK Explained
However, to really bring out the best in your forex trading (Learn the basics), the trading platform you choose should meet your needs and bring out the best of your trading style.
This in turn means that following the adage 'your trading strategy, your rules', setting up the best possible trading accounts in the UK might not be a particularly straightforward process. Like in any other jurisdiction, traders or prospective users need to do their homework and prioritize what are their needs.
Engaging in brokerage services is a high-risk endeavor but one that has been simplified in recent years through numerous reviews, online resources, and improved offerings. Still, finding regulated brokers is perhaps the greatest point of emphasis that individuals can focus on, which can eliminate a lot of guesswork, bad experiences, and problems down the road.
How to Find the Top Forex Brokers in the UK
The UK best forex brokers will most likely be up to you to decide because it is your own personal finance that is at stake. Each trader has their own preferred style, strategy and asset class, such as mutual funds, buying stocks, etc. This is why some brokers' offerings will be valued higher than others and the best trading platform UK can vary so greatly.
With this in mind, you should remember that before starting to use your bank account to explore the forex market or to buy and sell stocks, you can take the time to open a demo account on each one of these.
Always prioritize trading only with regulated brokers rather than seeking only commission-free trades. Remember to only invest in what you can afford while not draining any savings accounts.
Then only then you will know exactly what your trading options are and what exactly works best for you, leading you to have the best trading accounts in the UK.
As such, read on to find out what suits you best.
Top Forex Trading Platforms in the UK
Tickmill
Tickmill’s unbelievably low commissions and fees have earned them distinctions and awards across the board.
It is no surprise that Tickmill has quickly become a top contender for professional traders.
However, their offered isn’t limited to pros as their educational resources and copy trading capabilities will turn anyone into a pro.
Regardless of your trading skill, Tickmill really shines for is high-volume and high-balance traders as it really shines in terms of popular CFD instrument and forex trading.
Tickmill Features
- Regulation: FCA regulated
- Leverage: 1:30 for European retail clients (Tickmill EU), 1:500 for retail clients abroad (Tickmill Ltd Seychelles). As for pro traders: 1:500 in the UK, 1:300 in the EU.
- Minimum spreads: 0.2 pips average
- Minimum deposit: $100
- Trading platforms on offer: MetaTrader 4
- Customer Support: Live chat, telephone. 24/5
- Benefits: Educational materials, no inactivity fees, a demo account is provided.
INFINOX
Infinox was founded in 2009 and, ever since, it worked relentlessly and become a serious contender for best broker for UK investors.
Its headquarters are in the UK but the business iself has expanded into over 15 countries with a simple winning formula: Infinox aims at excelling in competitive trading conditions while providing a premium trading experience and exceptional client service.
To do so, Infinox features two different types of trading accounts (STP and ECN), over 50 currency pairs for Forex, and Indices, Equities, Futures, and Commodities.
Infinox is also regulated by the FCA, the FSC, FSCA, and many other top-tier jurisdictions which means it can be considered a reliable and transparent broker.
And with their sophisticated trading tools, there's ample reason why UK traders put their trust in Infinox.
Infinox Features
- Regulation: FCA, SCB, FSCA, FSC
- Leverage: Varies from 1:30 (majors), 1:20 (minors), and 1:10 for (commodities). It can go as high as 1:200 via international proposal with SCB
- Minimum spreads: 0.4 pips (ECN) / 1.2 (STP)
- Minimum deposit: $1
- Trading platforms on offer: MT4, MT5, IX Social, CQG
- Customer Support: 24/5
- Benefits: Educational materials and Demo Account is provided
Swissquote
Swissquote easily stands out as one of the best forex brokers in the UK. Founded in 1996, publicly traded (SIX: SQN), regulated, and reliable. Offering a wide range of benefits to traders, Swissquote has established itself as a top choice for forex traders in the UK.
Whether you are a beginner or an experienced trader, Swissquote provides a comprehensive, seamless, and reliable trading experience. With standout slippage metrics, a 9ms average execution speed, and a 98% fill ratio, Swissquote should be on any trader’s radar.
As such, it comes as no surprise that UK traders choose and trust Swissquote as they are promptly met with a regulated and secure trading environment, competitive leverage and spreads, a variety of account types, excellent customer support, and other valuable benefits such as a wide range of financial instruments, advanced trading platforms, research and analysis tools, and educational resources.
Swissquotes features
- Regulation: FCA (Financial Conduct Authority), SFC (Securities Futures Commission), FINMA (Swiss Financial Market Supervisory Authority), MAS (Monetary Authority of Singapore).
- Leverage: From 1:100 up to 1:400 for Professional accounts
- Minimum spreads: 0.6 pips
- Minimum deposit: £1000
- Trading platforms on offer: Advanced Trader, MT4, MT5
- Customer Support: 24/5, e-mail, phone support, live chat
- Benefits: Educational materials, research and analysis tools, webinars, tutorials, market news, economic calendars, TA, and other insights.
XTB
Whether you want to start trading or you’re only starting out, XTB has got your back.
XTB is an award-winning platform which vows to help traders, regardless of their experience, at every given stage of their trading journey.
Its educational section features an incredible video library and trading academy courses which vary from basic to intermediate, and the expert level.
For an online broker, XTB isn’t just for those who want to start investing. It boasts over 15 years of activity in the financial markets and a 525,000-customer base so you’ll find reasons to stick with them long-term too for your brokerage account.
Moreover, with multilingual customer support, regardless of your background, you’re guaranteed to have a dedicated support team right there with you.
XTB Features
- Regulation: FCA (FRN 522157)
- Leverage: 30:1
- Minimum spreads: 0.5 pips (standard accounts), 0.1 (pro accounts)
- Minimum deposit: No minimum deposit is required
- Trading platforms on offer: xStation
- Customer Support: Telephone support, dedicated account manager, live chat. 24/5
- Benefits: Educational portal
Saxo Bank
Saxo Bank allows traders to trade forex with added flexibility on the spot or derivatives markets.
Buying and selling one of their 190 currency pairs is a seamless experience, but Saxo Bank really takes it further beyond by having a Crypto FX feature in which you can gain exposure to crypto by trading them against some of the major currencies.
FX options and FX swaps are also on the table, meaning you can anticipate futures prices via maturities which range from a day to 12 months, but also speculate on FX prices as you hedge your exposure.
Saxo Bank bases its value proposition on 4 pillars:
- An award-winning platform in which you’ll be met with trade signals, innovative features aimed at risk management and news feeds.
- Incredibly competitive FX spreads with competitive entry prices and low rates.
- Best-in-class execution on the back of tier-1 liquidity for higher fill rates, less premature stop-outs, and no asymmetric slippage.
- 25 years of experience and expert service around the clock.
As such, it comes as no surprise that over 850,000 customers can vouch for Saxo Bank.
Saxo Bank Features
- Regulation: Fully regulated in 15 countries
- Leverage: 50:1
- Minimum spreads: 0.6 pips
- Minimum deposit: £500
- Trading platforms on offer: SaxoTraderGO
- Customer Support: Telephone support, dedicated point of contact (relationship managers and sales traders). 24/5. English.
- Benefits: Referral bonus, educational portal
CMC Markets
At CMC Markets it’s not just about forex traders but all types of traders out there.
It puts the individual at the heart of what it does and aims to provide the ultimate trading experience, constantly improving the way its clients invest in financial markets.
CMC Markets’ efforts translated into being recognized with the #1 Platform Technology Award at ForexBrokers.com Awards 2021.
With over 12,000 financial instruments to trade on, CMC Markets vows to provide the tightest spreads irrespective of market volatility across their product range.
From forex to indices. From shares to commodities. You can trade CFDs on a wide range of global financial markets, and you’re guaranteed to find whichever instrument better suits your needs.
With 300 forex instruments, 60 indices, 15 cryptocurrencies, 90 commodities, 30 treasuries and 9000 shares and ETFs, you can really tell why CMC Markets is one of the UK’s highest-rated trading platforms.
CMC Markets Features
- Regulation: FCA (173730)
- Leverage: 30:1
- Minimum spreads: 0.6 pips
- Minimum deposit: No minimum deposit is required
- Trading platforms on offer: MT4
- Customer Support: Telephone support, 24/5. English.
- Benefits: Referral bonus ($250 bonus* when they trade on a CFD account)
City Index
City Index’s mobile app shines when trading on the go, but that’s not all they offer.
With over 99% of trades being executed in under a second and a 0.05 second average, the City Index means speed.
In fact, their best execution policy ensures that if the price moves in your favor as the order is still being processed, City Index will execute the order at a better price.
City Index features a suite of award-winning trading platforms (Online Money Awards 2022), including an incredible mobile trading app (Professional Trader Awards 2021) which doesn’t compromise on performance.
City Index UK traders will be met with access to both spread bets and CFDs.
They are part of StoneX Group, (NASDAQ: SNEX), a company with a proven track record in providing both retail and institutional clients with trading services.
City Index Features
- Regulation: FCA (446717), ASIC, CySec, and MAS
- Leverage: 30:1 (retail traders), 400:1 (professional traders)
- Minimum spreads: 0,8 pips
- Minimum deposit: £100
- Trading platforms on offer: MT4
- Customer Support: Round the clock from 10 am Sunday to 5 pm Friday
- Benefits: Learning hub
Forex.com
Forex.com aims to give investors the complete CFD trading experience.
To do so, it builds on 5 pillars.
Their award-winning mobile and web platforms: Forex.com builds platforms with the investor at its heart, which is why you’ll find some amazing features, such as their Performance Analytics, TradingView charts, market commentary, Reuters news feeds, etc. Moreover, they deliver exclusive MT5 tools to its customers which you won’t be able to find anywhere else.
Tight Spreads: Forex.com prides itself on its tight spreads and fully transparent, straightforward pricing, meaning that you will never be caught off guard.
Fast execution with 99.73% of trades being executed in less than 1 second.: reliable, lighting fast execution is something not many brokers can claim. Forex.com, however, takes pride in its execution speed and reliability. The company doesn’t outsource execution responsibility.
As such, not only are they fully accountable for every single trade, but you also get to save money in the process as it uses price improvement technology to consistently ensure a better price.
Being fully regulated and a financially stable provider: Forex.com is a part of StoneX, a company which is listed on NASDAQ and boasts assets of nearly $11 billion. And, in what concerns regulations, Forex.com is regulated in several different regions across the globe, which in turn means that their customers’ money is secure as it is held in separate accounts in trustworthy top-tier banks.
Unparalleled customer support: With Forex.com, you’ll be getting help from dedicated specialists whether it’s for setting up your account, getting you started, getting a personalized walkthrough, or simply answering any other questions you might have.
You will always be in the loop as you can opt to get calls or emails regarding service enhancements or any other changes which might impact your account (regulatory, pricing or margin). You can even subscribe to emails catered to helping improve your trades and your trading plan.
- Forex.com Features
- Regulation: Financial Conduct Authority (FCA)
- Leverage: 50:1
- Minimum spreads: 0,43 pips average
- Minimum deposit: £100
- Trading platforms on offer: MT4, MT5
- Customer Support: 24h a day from 10 am Sunday to 5 pm Friday
- Benefits: Educational section
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